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Weekly forecast Euro / Japanese Yen technical chart
Symbol EURJPY

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Trade Setup
#EURJPY
Total Profit: 271 pip
Closed trade(s): 271 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 117.37 (day close price) based on 'Valley' at 2019.09.04 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 118.20 touched at 2019.09.05 with 83 pip Profit.
TP2 @ 119.25 touched at 2019.09.12 with 188 pip Profit.
83 + 188 = 271 pip

8 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (117.10 to 115.85). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (117.10)
    • Support on 04/18/2011
    • Support on 04/19/2011
    • Resistance on 05/06/2011
    • Resistance on 05/11/2011
    • Resistance on 05/19/2011
    • Resistance on 05/20/2011
    • Resistance on 06/09/2011
    • Resistance on 06/29/2011
    • Resistance on 06/30/2011
    • Resistance on 07/06/2011
    • Support on 01/16/2013
    • Support on 01/17/2013
    • Support on 01/23/2013
    • Resistance on 07/15/2016
    • Resistance on 07/22/2016
    • Resistance on 07/25/2016
    • Resistance on 07/27/2016
    • Resistance on 11/15/2016
    • Resistance on 11/16/2016
    • Resistance on 11/17/2016
    • Support on 08/28/2019
    • Support on 10/03/2019
  • Ending of entry zone (115.85)
    • Support on 06/16/2016
    • Resistance on 07/12/2016
    • Resistance on 07/13/2016
    • Support on 07/28/2016
    • Resistance on 09/01/2016
    • Resistance on 09/09/2016
    • Resistance on 09/14/2016
    • Resistance on 10/10/2016
    • Resistance on 10/11/2016
    • Resistance on 11/07/2016
    • Support on 04/12/2017
    • Resistance on 04/14/2017
    • Support on 04/18/2017
    • Trough on 09/03/2019
    • Support on 09/03/2019
DateOctober 5, 2019 - 20:40
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 114.850, beginning of uptrend is expected.
  • We make sure when the resistance at 120.800 breaks.
  • If the support at 114.850 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 117.665 on 2019-08-05 and the trough at 115.86 on 2019-09-03, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 120.00 on 09/13/2019, so more losses to support(s) 117.10, 115.85 and minimum to Major Support (114.85) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 41.

Take Profits:

  1. 118.20
  2. 119.25
  3. 120.00
  4. 120.80
  5. 122.30
  6. 123.70
  7. 125.10
  8. 126.65
  9. 129.10
  10. 133.10
Click on the level to view price action history.
Symbol Released Current Forecast
Euro / Japanese Yen (EURJPY) Sun, 14 Apr 2024
Euro / Japanese Yen (EURJPY) Sat, 6 Apr 2024
Euro / Japanese Yen (EURJPY) Sat, 30 Mar 2024
Euro / Japanese Yen (EURJPY) Sat, 23 Mar 2024
Euro / Japanese Yen (EURJPY) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on EURJPY.